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November, 14 - will Powell's testimony knock down USD growth?

Business hours are starting up soon in the USA. This means that we are going be faced with a lot of reports and a lot of information from over there. But of course the most important thing for today is the testimony of Jerome Powell. And not, he is not one of the witnesses of the impeachment trials. He is going to testify in front of the House Budget Committee in the state of economy of the USA. Important, very important occasion, I must say.

 

And it is only natural that we are going to watch Powell’s testimony very carefully. Especially, given unusual behavior of USD as of late. Will we get more information on the future of US economy and dollar? Well, we should hope so. And I think that those, trading EUR/USD and GBP/USD couples are awaiting this as well. They are waiting for USD to lose at least some of its power for their couple to grow at last.

 

eurusd 14.11.2019

 

gbpusd 14.11.2019

 

And it is high time that we saw something like that happening. Euro and pound have been losing their price against the greenback long enough for us to get tired of this tendency. After all, something is bound to knock down the growth of the greenback, and it might as well be the testimony of Powell.

 

What will the outcome be? Well, that is for the time to show to us. Use your trading signal to know more about your favorite couples.

 

 

Lang

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